May 16, 2022 (Alliance News via COMTEX) — The Indonesia skin care products market was valued at $9,758 million in 2019, and is expected to garner $14,716 million by 2027, registering a CAGR of 7.5% from 2021 to 2027.
Skin care products, make-up, and personal care are increasingly becoming integral part of Indonesian lifestyles. Consumers are getting more concerned of their well-being, especially when it comes to hygiene and appearance. This is attributed to improved awareness on sanitation, rise in income, and increase in celebrity, as well as social media influence on fashion & health. Supported with facts that the country is the largest market in Southeast Asia and has fourth highest population in the world, the skin care industry serves as a lucrative sector for foreign and domestic investors. Indonesian women purchase are the major consumers of beauty products.
A release on June 8th, 2021, by the Bureau and Economic Analysis and U.S. The Census Bureau reports the recovery of the U.S. market. The report also described the recovery of U.S. International Trade in July 2021.In April 2021, exports in the country reached $300 billion, an increase of $13.4 billion. In April 2021, imports amounted to $294.5 billion, increasing by $17.4 billion. COVID19 is still a significant issue for economies around the globe, as evidenced by the year-over-year decline in exports in the U.S. between April 2020 and April 2021 and the increase in imports over that same period of time. The market is clearly trying to recover. Despite this, it means there will be a direct impact on the Healthcare/ICT/Chemical industries. resulting in a large market for Indonesia Skin Care Products Market.
Corresponding to this trend, cosmetic products have become a primary requirement for Indonesian females who are the key target of the skin care industry players. However, the skin care industry is beginning to innovate on targeting men and millennial. The Indonesia skin care products market is segmented into product type, demographics, age group, and sales channel. Depending on product type, the market is categorized into cream, lotion, and others.
By demographic, it is bifurcated into male and female. On the basis of age group, it is segregated into generation X, millennial, and generation Z. As per sales channel, it is fragmented into supermarket/hypermarket, specialty stores, department stores, beauty salons, pharma & drug stores, and online sales channel.